Fund & Expense Limitations

The undersigned consisting of the majority of the general and limited partners of _______________, a limited partnership agree: 

That the general partners of _______________ shall maintain a reserve account with a minimum balance of $______(_______________& ___/100 dollars) from initial capital which shall be placed in a separate, interest bearing account. 

That the general partners, once the partnership begins operations shall establish a reserve account, which shall be deposited in a separate, interest bearing account. All profits from operations shall be deposited in this account until it reaches the sum of $____(_________________&___/100 dollars). 

The reserves shall accumulate and may only be invaded by the general partner upon the following occurrences: 
________________________________________________________________

and may only be used for the following purposes: 
________________________________________________________________

Dated: ____________________________ 

_______________		________________
General Partner		General Partner (if more than one; all must sign)

Limited Partners shall sign the attached Exhibit One or duplicate originals of the same.

Exhibit One:  Names & Addresses of Limited Partners and their signatures

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature    	Printed Name and Address	Social Security Number

Note:  Include as many more lines as there are Limited Partners.

Fund & Expense Limitations
Review List

This review list is provided to inform you about this document in question and assist in its preparation.  This kind of document is often developed after a partnership gets into trouble.  It relates to restricting General Partners use of funds.

1.	Make multiple copies.  Give them to each related party.  Keep one with the partnership records.